What If Grantham is Right?

My latest post at Alpha Baskets looks at a couple of dour expectations for US equity returns, not so much whether to agree or disagree but think about what to do if these expectations turn out to be correct.

It is easy to dismiss diversifiers after a truly epic rally but they will matter again at some point…and then after that there will be another truly epic rally.

From the post;

No matter what markets end up doing, advisory clients and do-it-yourselfers still have financial plans that likely require some amount of growth over time in order to have a chance of succeeding without something, such as desired lifestyle or working longer than hoped for, having to give.